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Total household income shall meet the income limitations specified above and further <br /> defined as an attachment to this document labeled PART II, INCOME <br /> GUIDELINES & AFFORDABILITY CRITERIA. Buyers will be selected on a first- <br /> prioritized, first-qualified basis, depending upon the date the application is received, <br /> within the priorities established. If there are more applicants than can be <br /> accommodated by this system, applicants may be selected by lottery. Lotteries will be <br /> held by priority group so that more qualified applicants are not competing with lesser <br /> qualified applicants. Refer to Program Description for more information relating to <br /> priority based on applicants currently residing in substandard housing and paying more <br /> than 30% of household income for housing. <br /> <br /> Ordy Buyers who fall within the first priority categories above will be eligible for the <br /> City's First Time Home Buyer Financial Assistance Program for the Wyndham Place <br /> Project. The source of funding for the Program for the Wyndham Project is from the <br /> federally funded HOME Program. Other federal funds may be added as necessary to <br /> assure affordability and comply with conditions of the HOME agreement. Applicants <br /> must be eligible for assistance under the HOME Program based on household incomes <br /> as defined in Part II. Assistance provided by Redevelopment Agency is a land subsidy <br /> which effectively reduces the sales prices of the units. <br /> <br /> Once initial income and residency eligibility status is determined, priorities will be <br /> followed, provided that at least one buyer of each unit at the time of application and <br />-- at the time of close of escrow, meets the priority category as defined in the Program <br /> Description. <br /> <br /> <br />